Jeremy Siegel famously said last year that he sees the Dow going to 15,000 in 2013. He also said there was a chance it could rise to 17,000. But in a new interview with Knowledge@Wharton he says the latter "might be a stretch" unless many risks go away, and people still see value in the markets. He also said investors should move away from traditional asset allocation.

"People say, "Jeremy, do you hold any bonds?" And I say, "The only bonds I've held over the years and years and years is junk bonds." And even they've become a little expensive, but you know, I just roll over and reinvest my interest there. That's the only bond part of my portfolio. I always have some cash, just for liquidity purposes. But as for an investment purpose, outside of a little chunk that rolls over in junk bonds, no extra bonds. I'm very enthusiastic about stocks. I'm not enthusiastic about gold because I think gold is priced for either hyperinflation or the end of the world. Neither of those two eventualities, in my opinion, is going to happen. I think commodities are expensive. Oil is expensive.

"So really, stocks, properties -- now, you know, there are some good values in real estates. REITs are very high, but they still should be part of your portfolio. In some investment properties, if people want to go into the liquid sides, it's fine. And of course if anyone is waiting to buy that home and lock in that mortgage rate, now is the time, and definitely that would be an advisable purchase to make. But as far as the liquid part of your portfolio, the vast majority should be in stocks now."

The Supreme Court has ruled against the SEC's argument in Gabelli v. SEC, that the statute on limitations for pursuing civil penalties like frauds, should begin when they are 'discovered' and not when they take place, according to The New York Times.

In this instance, the SEC had filed fraud charges against mutual fund manager Marc Gabelli and his colleague Bruce Alpert in 2008. The SEC had wanted the court to use the "discovery rule" which is a workaround the "statute of limitations". The Supreme Court ruled that victims of fraud can have a longer time to file claims but “the S.E.C. as enforcer is a far cry from the defrauded victim the discovery rule evolved to protect.”

By 2025, consumers in the emerging markets will be spending $30 trillion annually. This is according to a new report from McKinsey & Company. They have called this "the biggest growth opportunity in the history of capitalism".

The S&P500 is set to finish February in positive territory. In a note, Sam Stovall of S&P Capital IQ said the S&P 500 has had gains in both January and February 26 times since 1945. In each of those years the index has ended with gains.

"In all 26 instances, Stovall says the "500" recorded a positive calendar year total return, averaging an advance—including dividends—of 24 percent and posting full-year results that were in the single digits just twice: 1987 and 2011.

"The reason for this full-year early warning signal? "[I]nvestors—like an octogenarian willing to skip a nap—believe there may be too much to miss should they take their traditional seasonal siesta."

The stock market has been hovering near all-time highs but many experts have warned that the market is carving a top and have warned of investor complacency. Walter Zimmerman, a senior technical analyst at United-ICAP says every technical indicator suggests the stock market is peaking.

"Most of the rally in the stock market since 2009 can be chalked up to the Federal Reserve’s attempt to create a ‘wealth effect’ through higher stock market prices. This only exacerbates the downside risk. Why? The stock market no is longer a lead indicator for the economy. It is instead reflecting Fed manipulation. Pushing the stock market higher while the real economy languishes has resulted in another bubble.

"The next leg down will not be a partial correction of the advance since the 2009 lows. It will be another major financial crisis. The worst is yet to come."